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| Subject:
401-k Withdrawal
Category: Business and Money > Accounting Asked by: irishbill-ga List Price: $5.00 |
Posted:
23 Sep 2005 11:21 PDT
Expires: 23 Oct 2005 11:21 PDT Question ID: 571632 |
I have a 401-k with T Rowe Price. I am currently employed and plan to stay employed until I turn 62 or so. I will be sixty in Dec 2005. Can I withdraw any of my 401-k money without penalty as I'm over 59 1/2 or do I have to be retired? I don't want to take a loan, just a withdrawal. |
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| Subject:
Re: 401-k Withdrawal
From: omnivorous-ga on 23 Sep 2005 12:24 PDT |
Irishbill -- This is a fairly complex area with several options. Here are the relevant IRS publications: "Topic 412 - Lump?Sum Distributions" http://www.irs.gov/taxtopics/tc412.html "Topic 555 - Ten?Year Tax Option for Lump?Sum Distributions" http://www.irs.gov/taxtopics/tc555.html "Pensions & Annuities" http://www.irs.gov/publications/p575/ar02.html#d0e1950 And don't forget that you can ask the IRS directly at 1-800-829-1040. Best regards, Omnivorous-GA |
| Subject:
Re: 401-k Withdrawal
From: irishbill-ga on 23 Sep 2005 21:06 PDT |
Thanks, but those links don't really seem to be relevant to my question. I'll call the IRS on Monday. Thanks. |
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